Wyomissing Freestanding Two-Unit
For Sale
$595,000
904 Penn Ave, Wyomissing, PA 19610
Freestanding 2-unit property in the heart of Wyomissing.
Property Size3,500 SF
Price / SF$170
Days on Market264
Property Features for 904 Penn Ave
General Information
Standard status
Active
Size
3,500 SF
Class
B
Property subtype
Office
Building Details
Building Size
3,500 SF
Year Built
1920
Listing Agency:
(610) 370-8522
Listed By:
Kyle McKechnie, SIOR
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kyle McKechnie, SIOR
Investment Insights
Based on property information with market context.
This freestanding two-unit property is located in the heart of Wyomissing along busy Penn Avenue. The 3,500 SF building has curb appeal and is suited for a variety of uses. The owner currently occupies the first floor. The second floor has been rented for commercial tenants in recent years, but can be converted back to an apartment as it has a full kitchen and bath. The property is easily visible from the Park Road and Penn Avenue intersection, providing an easily recognizable location for a business. There is also 1,250 SF of office space available for lease.
Key Highlights
- Freestanding 2‑unit property in the heart of Wyomissing on Penn Ave.
- High visibility location at the Park Road and Penn Ave intersection.
- Suitable for a variety of uses (owner‑occupied, commercial, or residential).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,325
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$586,500
$586.5K
Cap Rate 7%
$418,929
$418.9K
Cap Rate 9%
$325,833
$325.8K
Market Conditions
NOI Build-Up for 3,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$45.4K $12.96/SF
− Vacancy
−$6.3K −$1.79/SF
EGI
$39.1K $11.17/SF
− OpEx
−$9.8K −$2.79/SF
NOI
$29.3K $8.38/SF
Area
Berks County, PA
Vacancy
13.80%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$586,500
Cap Rate 7%
$418,929
Cap Rate 9%
$325,833
Alternative Uses
Best Use
Office B
$418.9K
$366.6K – $488.8K
NOI $29,325 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$574.6K
$502.7K – $670.3K
NOI $40,219 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
Explore this area
Business Placement
Demographics for 19610, PA
16,024
Population
7,327
Households
2.2
Avg Household Size
46
Median Age
54%
College-Educated
98%
High-School Grad
7.1 sq mi
ZIP Area
2,257
Density / Sq Mi
$91,034
Median Household Income
$52,707
Median Earnings
$1,669
Median Rent
$320,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Freestanding 2-unit property in the heart of Wyomissing.
Where is this office building located?
The property is located at 904 Penn Ave Wyomissing, PA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Freestanding 2‑unit property in the heart of Wyomissing on Penn Ave.; High visibility location at the Park Road and Penn Ave intersection.; Suitable for a variety of uses (owner‑occupied, commercial, or residential).
